1 / 10

Paying For College 202

Paying For College 202. Presented by…. Student Financial Services. Types of Financial Aid. Free Money. Grants & Scholarships. Earned Money. Work-Study (Student Labor). Borrowed Money. Loans. U.S. Department of Education. Pell Grant * $5,550

len
Télécharger la présentation

Paying For College 202

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Paying For College 202

  2. Presented by… Student Financial Services

  3. Types of Financial Aid Free Money Grants & Scholarships Earned Money Work-Study(Student Labor) Borrowed Money Loans

  4. U.S. Department of Education Pell Grant* $5,550 Supplemental Education Opportunity Grant* $4,000 (AU Max. = $1,000) * FAFSA Required Federal Financial Aid Programs

  5. U.S. Department of Education Perkins Loan 5% fixed, 9 month grace period (AU Max .= $1,500) Stafford Loans 5.6% fixed, Subsidized, 6 month grace period 6.8% fixed, Unsubsidized, 6 month grace period PLUS Loan 7.9 % fixed, within 60 days after last disbursement, unless a deferment is requested • Consider • Subsidized vs. Unsubsidized • Interest Rate • Grace Period • Know • Borrowers Rights & Responsibilities • Loan Repayment • Deferment & Forbearance • Entrance & Exit Counseling Federal Loan Programs

  6. Applying for Financial Aid • Federal Aid PIN • FAFSA • Institutional Forms • Other Note: Communicate with each college to inquire about steps you need to take to have a complete application.

  7. IRS Data Retrieval • While completing FAFSA, applicant may submit real-time request to IRS for tax data • IRS will authenticate taxpayer’s identity • If match found, IRS sends real-time results to applicant in new window • Applicant chooses whether or not to transfer data to FAFSA • Available end of January 2011 for 2011-12 processing cycle • Participation is voluntary • Could reduce documents requested by financial aid office • Not available to applicants with a recent change in marital status

  8. Frequent FAFSA Errors • Parent and student Social Security Numbers • Divorced/remarried parental information • Income earned by parents/stepparents • Untaxed income • U.S. income taxes paid • Household size • Number of household members in college • Real estate and investment net worth

  9. Steps for Students • Start planning for the future now • Complete the admission process • Apply for PIN and complete FAFSA • Receive, revise and edit the Student Aid Report (SAR) • Consider award letters • Respond to college offers • Advise school(s) of external scholarships • Renew the FAFSA every year!

  10. Student Financial Services

More Related